Cost of data breach increases
Each lost record cost firms £64 in 2009; £69 for private sector, £59 for public organisations, according to a new report
Privacy and information management research firm Ponemon Institute, together with PGP Corporation, a global leader in enterprise data protection, today announced the results of the third annual study into the costs incurred by UK organisations after experiencing a data breach. The "2009 Annual Study: UK Cost of a Data Breach" report, compiled by the Ponemon Institute and sponsored by PGP Corporation, found that each lost customer record cost on average £64 in 2009, a seven percent increase on 2008's figure of £60. In 2007 the cost per lost record stood at just £47. Lost business due to reduced consumer trust was the main contributor to this expense, making up £29 per record.
